When it comes to marketing, there is no shortage of complicated jargon that can turn simple concepts into confusing terms. In this article, we will take some of the most common marketing acronyms and detail how they can be effectively used to your advantage.
SERP – Search Engine Results Page
SERP or Search Engine Results Page is exactly what the name suggests – pages listing relevant websites pertaining to the specific keywords entered. These pages represent opportunities for any business looking to expand its online presence and drive more sales.
Search Engine Optimization
Search Engine Optimization, or SEO, is a content game. It’s the process of making backend changes to your website to make it more noticeable on search engines. These changes or optimizations include keyword identification, internal link creation, and meta description text. Implementing these changes can lead to your site appearing higher up within the search engine results, leading to more clicks and interest in your site. Appearing higher is the ultimate goal of any SEO campaign, as customers are not always willing to endlessly scroll to find your business. Higher placements lead to more engagements, which can mean more money for your business. For a more in-depth look at SEO and why it is so important, stay tuned for our SEO vs. SEM article coming soon!
Search Engine Marketing
Search Engine Marketing, or SEM, is similar to SEO in that it improves your page’s listing within search engines, but does so in a different manner. As the name would entail, SEM is a paid-for version of marketing in which a business is paying or “bidding” on certain search terms to get their business at a higher spot. For example, a local plumber might use SEM to have his business appear higher using the search term “local plumber near me” to attract more clients. Depending on the size of the bid, your business can appear higher or lower on the page. Ideally, your site will be at the very top of the first page since that is where most customers will be.
Using the previous example of “local plumber near me” we can see three separate sponsored placements for local businesses. As stated previously, each instance has a “sponsored” above it, separating it from the rest of the search results. Remember, the non-sponsored posts were placed higher due to their use of SEO to organically boost their page positioning.
KPI – Key Performance Indicator
KPI, or Key Performance Indicator, describes several pieces of information that can be used to track a campaign’s progress toward its overall goals. Unlike other common marketing acronyms listed in this article, there is no one single KPI that all campaigns share. Common examples of KPIs are Impressions, Clicks, CTR (click-through rate), Likes, or Conversions. What sets these apart from other metrics is their consistent use across the industry as indicators of the overall success of a campaign. Regardless of how you use them, KPIs are an integral part of any campaign’s success and reporting.
CPM – Cost Per Milli
CPM, or Cost Per Milli, denotes the overall price for every 1,000 impressions an ad receives. This can be useful in reporting on the success of a campaign, as the lower the CPM the more efficient the budget spend was for this particular campaign. Keep in mind, that a campaign must have at least 1,000 impressions in order for this data to be fully accurate by its very nature.
CPC – Cost Per Click
CPC, or Cost Per Click, is the exact amount of money it costs per click on the ad. This is found by dividing the total budget spent by the amount of clicks. For example, a campaign with 35 clicks on a budget of $300 leaves a CPC of $8.57. CPC can be a very valuable metric indicating the overall success rate of the campaign during reporting.
CTR – Click-Through Rate
CTR, or Click-Through Rate, is the measurement of how many impressions had corresponding clicks. This is done by dividing the total clicks earned by the total impressions delivered in a campaign. For example, a campaign with 50 clicks out of 5,000 impressions is going to have a CTR of 0.01%. Each type of campaign has a different industry standard CTR, so comparing the CTRs of different campaigns is not always an effective model of measuring success. While a click-through rate is a good indicator of overall performance, it can be incredibly volatile and subject to change from all aspects of a campaign. Anything from a poorly worded caption or ineffective creative could impact your CTR.
Conclusion
Regardless of your degree of marketing experience, mastery of these common marketing acronyms can be the difference between the success of a campaign and failure to meet your goals. Every campaign is different, so plan carefully and always make needed adjustments as you go.
ConnectNow.Agency is a full-service digital marketing agency specializing in content creation, social media management, and analytics. The team works closely with businesses to develop tailor-made digital marketing plans that align with their objectives. Contact us today to learn how we can help you build a strong online presence and grow your business.